Atlantis Internet Group Signs Agreement to Supply Legal Online Poker Nationwide to Indian Casinos
September 08 2010 - 5:30AM
Marketwired
Atlantis Internet Group Corp. (PINKSHEETS:
ATIG) announced today that it has signed a licensing agreement with
Cake Gaming NV to allow patrons in tribal casinos in more than 30
states to play poker online, legally and immediately. Cake, one of
the largest and fastest growing poker networks in the world,
currently supplies poker software in several legal international
gaming jurisdictions. Now, backed by the legal opinion of the
National Indian Gaming Commission (NIGC) for its patent pending
"Casino Gateway Network" (CGN), ATIG is poised to establish a
private gaming network on Indian Lands. This revolutionary
technology will allow tribal casinos to offer a form of Internet
poker across state lines.
There is $30 billion in Internet gaming revenue generated
worldwide now, without the U.S. market. Analysts are quick to point
out that before the U.S. Congress passed the 2006 Unlawful Internet
Gaming Enforcement Act (UIGEA), two-thirds of the worldwide
Internet gaming revenue came from the U.S. That means billions of
Internet gaming revenue dollars within the U.S. market now remain
untapped. While the UIGEA put an end to Internet gambling in the
U.S., it provided certain exceptions for Indian Casinos and
Intertribal Internet gaming and states that pass Intrastate
Internet gaming legislation.
ATIG will now be the only poker network operating in more than
one state at a time. This also allows tribes to aide their
respective communities which have been hard hit by the sagging
economy. "Our Indian version of the CGN, called the 'Tribal Gaming
Network' ('TGN') offers an immediate and legal solution to Indian
casinos nationwide, providing the largest online poker network in
the U.S. This is a significant milestone for ATIG and Cake, and
will become an immediate economical shot in the arm for Tribes and
states facing deficits nationwide," said Donald L. Bailey, CEO of
ATIG.
There is a growing movement in the U.S. and Europe to relax the
rules on Internet gambling so that taxes on online gaming might
bolster revenue and reduce budget shortfalls. Last month the
Financial Services Committee of the House of Representatives
approved a Bill that would overturn the 2006 UIGEA law. Supporters
say online gaming could yield as much as $42 billion in U.S. tax
revenue over 10 years. ATIG's CGN System is designed for
traditional commercial casinos as well and can be easily
implemented when, and if, pending state Intrastate Internet Gaming
legislation is passed.
ATIG introduced its technology to the NIGC, the federal agency
that co-regulates all Indian Casinos, and in September 2009
received a favorable opinion allowing it to operate its network in
all Indian Casinos nationwide. The TGN System allows players to
play on a private gaming network, i.e., "Wide Area Progressive"
(WAP), Class III, Class II and online games on Indian lands. The
NIGC Opinion went on to state that according to its Bulletin on the
UIGEA, ATIG's network works like a traditional WAP and, therefore,
it is not considered as being illegal Internet Gaming.
About Atlantis Internet Group Corp.
(http://www.AtlantisInternetGroup.com):
Utilizing an innovative development team and licensed gaming
executives to oversee its state-of-the-art online gaming, slot
machine and gaming network products, Atlantis Internet Group Corp.
("ATIG") has bridged the gap between traditional gaming casinos and
online gaming. ATIG is one of the first companies to interface with
online games and player tracking systems found on traditional floor
slot machines, and one of the only online gaming products used in
Nevada and now the rest of the United States.
Forward-Looking Statements:
Any statements made in this press release which are not
historical facts contain certain forward-looking statements; as
such term is defined in the Private Security Litigation Reform Act
of 1995, concerning potential developments affecting the business,
prospects, financial condition and other aspects of the Company to
which this release pertains. The actual results of the specific
items described in this release, and the Company's operations
generally, may differ materially from what is projected in such
forward-looking statements. Although such statements are based upon
the best judgments of management of the Company as of the date of
this release, significant deviations in magnitude, timing and other
factors may result from business risks and uncertainties including,
without limitation, the Company's dependence on third parties,
general market and economic conditions, technical factors, the
availability of outside capital, receipt of revenues and other
factors, many of which are beyond the control of the Company. The
Company disclaims any obligation to update information contained in
any forward-looking statement. This press release shall not be
deemed a general solicitation.
Contact: Linda Bailey 717-652-8015
www.atlantisinternetgroup.com
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